Jacka Resources targets oil in Somaliland

[Khalid Ali]

Jacka Resources targets oil in Somaliland, exploration to start in current quarter
Monday, April 02, 2012 by Bevis Yeo

Jacka Resources targets oil in Somaliland, exploration to start in current quarter.

Jacka Resources (ASX: JKA) has acquired a highly prospective oil exploration block in Somaliland, East Africa, that is on trend with the prolific producing basins of Yemen that hold 9.8 billion barrels of oil equivalent.

The company will hold a 50% operating stake in the 22,000 square kilometre Habra Garhajis block , where a working petroleum system appears to be demonstrated by 9 independently verified oil seeps.

Geochemical analyses of these seeps indicate a light oil or condensate that is consistent with the oils produced in Yemen.

Jacka’s partner Petrosoma has an established in-country office and team that will provide immediate operational capability.

The joint venture has scheduled an aggressive work program starting with the acquisition of a comprehensive gravity and magnetics dataset in the second quarter of 2012.

Jacka will also be required to shoot at least 500 kilometres of 2D seismic.

Habra Garhajis is 1 of 3 Jurassic rift basins in the Horn of Africa that are continuations of the Jurassic rift basins of Yemen, and its geology is expected to be very similar.

The entire East African region is the subject of an increasingly strong and competitive industry focus with companies such as BG, Ophir, ENI, Africa Oil, Anadarko, Total, CNOOC and others taking positions.

Recent finds such as Anadarko’s giant 30 trillion cubic feet gas discovery in the Rovuma Offshore Area 1 in Mozambique, large gas discoveries by BG and Eni as well as an oil find by African specialist Tullow Oil have all served to fuel interest in the region.

[Khalid Ali]

Good news exploration will start within this current quarter ophir oil is also interested and also the other norweigian oil company this is the 3rd oil Company.

Habra Garhajis is 1 of 3 Jurassic rift basins in the Horn of Africa that are continuations of the Jurassic rift basins of Yemen, and its geology is expected to be very similar.

[Thuganomics]

Ma basinkaa la yidhaa Habra Garhajis Cool

[Siciid85]

Mashallah. Inshallah it will succeed, may allah protect us from the evil eye. Amiin.

[CaynabaX]

Where is this Habar Garxajis block located? Is it the block near Oodweyne or Gacan Libaax?

[Siciid85]

It is located in here. With the exploration possibly happening in 9 different locations in that basin.

East Africa focus area of Jacka RESOURCES LIMITED.

Jacka Resources Limited (“Jacka” or “the Company”) is pleased to announce that it has entered into
an agreement with Petrosoma Limited (“Petrosoma”) to become Operator and a 50% equity holder
in Blocks 6,7 (partial) and 10 (partial), located onshore Somaliland (see Figure 1 & 2) which are the
subject of a Production Sharing Agreement (“PSA”) with the Government of the Republic of
Somaliland. The PSA area, which was formerly known as ‘block 26’, is informally referred to
hereafter as the “Habra Garhajis block”.

Block Overview
The Habra Garhajis block lies in the south west of Somaliland and covers an area of some 22,000
km
2. The Block completely encloses what became known during British colonial times as the HabraGarhajis basin. This is one of three genetically-related, en-echelon Jurassic rift basins in the Horn of
Africa that are the continuations of the prolific Jurassic rift basins of Yemen (Figure 3). Yemen and
the Horn of Africa have been separating since the Oligocene due to the ongoing East African Rift and
opening of the Gulf of Aden.
The Habra-Garhajis basin is an estimated 220km long and 50km wide. Based on existing gravity and
magnetics data, these are typical rift segment dimensions, amply demonstrated in the modern East
African Rift including the Albertine graben in Uganda.

[Siciid85]

Somaliland: Jacka Resources to acquire stake in Somaliland

02 Apr 2012
Australian oil and gas exploration company Jacka Resources announced that it will acquire a 50 per cent operating stake in an onshore block in the breakaway state of Somaliland by paying previous and future license costs. The oil rich Habra Garhajis block, expanded in 2.2 million hectare area, encloses the basin of the same name, covers all of block SL 6 and parts of blocks SL 7 and SL 10, which is currently owned by Japan based Petrosoma.

As per agreement, the block is subject to a production sharing agreement with the Somaliland government, while the Australian major has to pay all of the third period minimum work programme. The company will hold 50 per cent equity in the field by funding the studies, gravity survey and 500 km 2D seismic survey, as well as by paying a contribution toward past license costs.

Speaking about the acquisition, Jacka chairman Scott Spencer said the Habra Garhajis block, which held some nine independently verified oil seeps, had 'enormous potential that reinforces the company’s new venture strategy both in East Africa and rift systems. We are delighted to be partnering Petrosoma and entering this block in Somaliland. We look forward to working with Petrosoma over the coming months and executing the exploration programme,' he added.